Bank Loan Without Guarantee– Today we are providing you with information related to how to apply for a loan up to Rs 5 lakh in digital form without a guarantee. As you all know that in today’s time of digitization it has become very easy to take a loan from a bank. In today’s time, many types of facilities are being provided to take loans under digital payment platforms. But to get the loan, first of all, your civil score should be correct. You can easily get the loan once the civil score is correct.
Bank Loan Without Guarantee
Under the digital payment platform, now after Google Pay, Paytm has brought a better loan facility for small businessmen. In loan, borrowers can take a loan on the basis of just a few easy steps. So let’s know how can you apply for a loan of 5 lakhs digitally without taking any guarantee from here.
Bank Loan In India: loan without guarantee
Paytm has brought a special facility for all its users to take loans. In small businessmen can now easily take a loan of up to Rs 5 lakh. Users do not need to give any kind of guarantee to take a loan from Paytm. You can pay the loan taken under the digital platform under monthly EMI.
Paytm Loan: loan without guarantee
Paytm has partnered with banks and NBFCs to extend its loans to its users. If you are a Paytm user and want to take a loan under Paytm, then for this you have to go to the Merchant Lending Program in the Paytm for Business app. Here Paytm will check the creditworthiness status based on the merchant’s daily key transactions.
How to apply for Paytm Loan from Paytm business app
- To take a loan from the Paytm app, open the app.
- On the home page of the app, click on the option ‘Business Loan’.
- Now select the amount as per your requirement.
- After this check the details of Daily Installment.
- After clicking in the check box, click on the Get Started option.
- Now submit the EKYC data to complete the loan application.
- After that enter all the requested information.
- Submit your loan application after KYC verification.
- After the Paytm Bank loan approval, this loan amount will be transferred to your account.
- To take a loan from the Paytm app, open the app.
- On the home page of the app, click on the option ‘Business Loan’.
- Now select the amount as per your requirement.
- After this check the details of Daily Installment.
- After clicking in the check box, click on the Get Started option.
- Now submit the EKYC data to complete the loan application.
- After that enter all the requested information.
- Submit your loan application after KYC verification.
- After the Paytm Bank loan approval, this loan amount will be transferred to your account.
FAQs
Can I take a loan without a guarantee?
A collateral-free loan may be a loan provided to the receiver with no guarantee. In straightforward terms, this means, you’ll be able to approach a loaner and borrow cash from him at a definite rate of interest even though you have got nothing to pledge or invest.
How long does it take for Paytm to disburse the loan?
The company claims that it takes but two minutes to complete the method for disbursal of the loan quantity. The new Instant loan theme by Paytm is probably going to draw in new customers and increase the pool of users. the corporate is giving a versatile reimbursement tenure of 18-36 months to come back the loan quantity.
What is the interest rate of a Paytm loan?
You can borrow a minimum of Rs. 10,000 and most up to Rs. two Lakhs as Paytm consumer loan. versatile tenure: The tenure for reimbursement of the loan varies from eighteen to thirty-six months. engaging rate of interest: you’ll get a Paytm consumer loan interest rate ranging from 1/3 for up to thirty days.
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